3 Ways to Get a Better Home Appraisal

When it comes to refinancing or selling your home, getting a good appraisal is crucial. There are some steps you can take make sure your home won’t be valued lower than you expect and if you take the time to properly prepare your home, you’ll have no worries when it’s time for the appraisal. This article outlines some simple ways homeowners can increase the value of their home without breaking the bank. To hear some expert advice, stream or download the following episode of The Housing Hour with home appraiser Tom White as he explains home values and the appraisal process.

Gather an Information Packet

Compiling your own information for the appraiser to review can be very helpful, more so for you than the appraiser. The appraiser will get information on your home from generally reliable sources, but that doesn’t mean that there won’t be any erroneous information passed along. To make sure you don’t get a lower appraisal because of errors or misinformation, put together a packet for your appraiser to look through. You won’t have to get too involved in this, just compile a few pages of information on your home including:

Comparable homes in your neighborhood

The appraiser will have a list of similar homes in your neighborhood, but you might have additional information that explains why the houses in your neighborhood sold for the price that they did. For instance, a home in your neighborhood might sell at a lower price because the owner had to relocate in a hurry. These kinds of situations should be noted by the appraiser.

Comparable homes within a 1 mile radius

You can have your real estate agent fax you the MLS sheets for each home sold within a 1 mile radius of yours over the past 6 months. Study these printouts and write down anything you or your agent knows that may have influenced the sale price. Make sure include your notes in the package.

A Brag Sheet

Sometimes the appraiser may not be privy to all the features your property boasts, which can result in a lower appraisal than you deserve. Appraisers can refer to a brag sheet that provides accurate information as well as selling points on your home. Include a list of any significant improvements or renovations. Also include the dates and costs of any home improvements. Provide documentation of the improvements, such as receipts or contact information from the contractor who did the work. Common improvements you should mention are counter tops, flooring, new roof etc. Here are some other things you should put in your brag sheet:

• The number of bedrooms
• Number of bathrooms
• Square footage
• Your address and the year the home was built.

Improve Curb Appeal

Many times homeowners may think that curb appeal is only to catch the eye of prospective buyers, but it can influence much more than that. Your home’s curb appeal can leave a lasting impression on the appraiser as well, potentially upping the value of your property. There are many inexpensive ways to manage your home’s curb appeal. Maintaining your yard or adding attractive plants are two great ways to keep your home close to market value. Consider adding a storm door, or a fresh coat of paint to add appeal to your front door. When it comes to curb appeal, there are tons of cost effective ways for homeowners to up the value of their home with a little bit of time and effort.

Invest in Home Improvements

If you want to update your house and you can afford it, consider investing some money on the following home improvements:

• Replace your counter tops.If you have laminate counter tops, think about upgrading to tile, granite, or manufactured quartz to give your kitchen and bathrooms new life.
• Update your flooring with wood, ceramic tile or laminate flooring.

If it’s broken, fix it. If you have any maintenance issues such as leaky faucets, torn screens, broken door handles or any other minor cosmetic damages, have all these repaired before the appraiser arrives. For more information on home appraisal and all sorts of useful advice, visit The Housing Hour’s website and check out the Home Ownership Matter Series.